Selkirk Metals Corp.: Notice of Deadline for Tendering Shares
October 06 2009 - 11:51AM
Marketwired
Selkirk Metals Corp. ("Selkirk") (TSX VENTURE: SLK) is pleased to
announce that, further to its news releases dated July 27 and
September 15, 2009 relating to the proposed merger with Imperial
Metals Corporation ("Imperial") (TSX: III) by way of plan of
arrangement (the "Arrangement"), the Supreme Court of British
Columbia granted an interim order on September 29, 2009 approving
the calling of a special meeting (the "Meeting") of the
shareholders of Selkirk (the "Selkirk Shareholders").
The Meeting will be held at 9:30 am (Pacific time) on Friday,
October 30, 2009 at Suite 800 - 1199 West Hastings Street,
Vancouver, British Columbia for the purpose of, among other things,
considering and, if deemed advisable, passing a resolution
approving the Arrangement, as more fully set forth in the notice of
meeting and information circular of Selkirk dated as of September
16, 2009 (the "Notice of Meeting and Circular"), a copy of which is
available on SEDAR at www.sedar.com under Selkirk's profile.
As previously announced, under the terms of the arrangement
agreement dated September 14, 2009 among Selkirk, Imperial and
Bethlehem Copper Corporation, a subsidiary of Imperial (the
"Arrangement Agreement"), Selkirk Shareholders (other than holders
exercising dissent rights) may elect to receive either $3.60 cash
for every 30 common shares of Selkirk ("Selkirk Shares") held, or
one common share of Imperial (an "Imperial Share") for every 30
Selkirk Shares held. Imperial is not required to issue more than
2,200,000 Imperial Shares in connection with the Arrangement. If
elections made by Selkirk Shareholders would otherwise result in
the issuance of more than 2,200,000 Imperial Shares, such number of
Imperial Shares will be allocated among such electing holders on a
pro-rata basis, with the balance of the consideration payable in
cash. If no election is made by a Selkirk Shareholder by the time
of the Meeting, such holder will be deemed to have elected to
receive cash.
Accompanying the Notice of Meeting and Circular and other
materials that were mailed to Selkirk Shareholders of record as at
the close of business on September 16, 2009 in connection with the
Meeting is a form of Letter of Acceptance and Transmittal and
Election Form (the "Letter of Transmittal") which sets out the
procedure to be followed by registered Selkirk Shareholders in
depositing their Selkirk Shares. Selkirk Shareholders are
encouraged to sign, date and return the Letter of Transmittal in
accordance with the instructions set out therein and in the Notice
of Meeting and Circular so that they may make the election to
receive Imperial Shares or cash for their Selkirk Shares and, if
the Arrangement is completed, payment for their Selkirk Shares may
be sent to them as soon as possible following completion of the
Arrangement. If a Selkirk Shareholder does not return a duly
completed Letter of Transmittal before the time of the Meeting,
such holder will be deemed to have elected to receive cash for
their Selkirk Shares. A copy of the Letter of Transmittal is also
available on SEDAR at www.sedar.com under Selkirk's profile.
About Imperial
Imperial is a mine development and operating company based in
Vancouver, British Columbia. Imperial's key properties are the
Mount Polley open pit copper/gold producing mine in central British
Columbia, the Huckleberry open pit copper/molybdenum producing mine
in northern British Columbia, the development stage Red Chris
property in northwest British Columbia, and the development stage
Sterling gold property in southwest Nevada.
About Selkirk
Selkirk is a Vancouver based mineral exploration and development
company with a large portfolio of exploration properties
predominantly in British Columbia. Since it commenced operating in
2005 Selkirk has focused its field operations on the exploration
and development of the Ruddock Creek Zinc/lead project and the
Catface copper project both of which have a defined resource and
development potential.
For further information on Imperial Metals Corporation, please
contact Brian Kynoch, President 604-669-8959, or visit our website
at www.imperialmetals.com.
SELKIRK METALS CORP.
Gordon Keevil, President and CEO
This release includes certain statements that may be deemed to
be "forward-looking statements" within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995 or
"forward-looking information" within the meaning of Canadian
securities laws. All statements in this release, other than
statements of historical facts, that address future production,
reserve potential, exploration and development activities and
events or developments that Selkirk expects, are forward-looking
statements. Although management believes the expectations expressed
in such forward looking statements are based on reasonable
assumptions, such statements are not guarantees of future
performance, and actual results or developments may differ
materially from those in the forward-looking statements. Factors
that could cause actual results to differ materially from those in
forward-looking statements include market prices, exploration and
development successes, continued availability of capital and
financing, and general economic, market or business conditions.
Please see our public filings at www.sedar.com for further
information.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Selkirk Metals Corp. Gordon Keevil President
604-687-2038 604-687-3141 (FAX) www.selkirkmetals.com
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